Global nickel market sees supply crunch in first quarter of 2018

Published: May 17, 2018 14:41 (GMT+8)

Save

Supplies were short in the global nickel market in the first quarter of the year, as output fell short of demand by 32,000 mt, according to a report by the World Bureau of Metal Statistics

SHANGHAI, May 17 (SMM) – Supplies were short in the global nickel market in the first quarter of the year, as output fell short of demand by 32,000 mt, according to a report by the World Bureau of Metal Statistics (WBMS) on Wednesday, May 16.

Apparent demand, which includes total production and the difference between imports and exports, is the amount of nickel used across global markets. Nickel supplies were short by 96,000 mt in 2017.

At the end of March, nickel inventories across LME warehouses dipped 46,000 mt from the end of 2017. Global production of refined nickel totalled 422,700 mt in the first quarter, compared with apparent demand of 454,700 mt, according to the report.

From January to March, nickel output across China's smelters and refineries increased 16,000 mt year on year. Apparent demand added 29,000 mt from the same period last year.

For editorial queries, please contact Daisy Tseng at daisy@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn

nickel supply demand

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

[SMM Nickel Flash News] Indonesia Update — October 5, 2026

Indonesian nickel ore CIF average prices remained broadly stable, with the latest SMM assessment: 1.2% Ni: CIF price at $25.5/wmt, unchanged 1.3% Ni: CIF price at $27.5/wmt, unchanged 1.4% Ni: CIF price at $48.7/wmt, unchanged 1.5% Ni: CIF price at $54.2/wmt, unchanged 1.6% Ni: CIF price at $59.0/wmt, unchanged In the upstream market, nickel ore prices have weakened from late-September levels as additional RKAB quotas gradually enter the market and sellers face increasing pressure to adjust prices. SMM reported that discounts have officially emerged, with some ore prices falling below the HPM benchmark. Meanwhile, the first-half October nickel HMA was reduced to $16,322.67/mt, down $375.33/mt, or 2.25%, from the second-half September HMA of $16,698/mt.

5 hours ago

【SMM Nickel Flash News】Nickel Weather Risks Remain Manageable on October 5–11

Weather conditions across major nickel-producing and logistics areas in the Philippines, Indonesia and China are expected to remain generally manageable on October 5–11, with localized weather potentially causing short-term operational disruptions. In the Philippines, Palawan and Surigao may see scattered rain and thunderstorms on October 6–7, while rainfall could increase in Eastern Visayas and Mindanao on October 8–9, posing temporary risks to mine-road transport, ore barging and vessel loading. In Indonesia, Morowali and Konawe are expected to remain relatively stable, with low rainfall and no significant storm activity. Halmahera and Obi may see occasional rain and stronger winds, which could briefly affect marine logistics. In China, major nickel ore receiving ports are expected to remain largely operational, although localized rain and stronger winds could cause brief delays to vessel handling and cargo transportation.

5 hours ago

10 hours ago

[SMM Nickel Flash News] Unrest at PT Askon in Morowali Raises Concerns

On October 2, protests over mining-related dust and environmental impacts escalated into unrest at PT Astima Konstruksi (PT Askon) in Matarape Village, Morowali Regency, Central Sulawesi, Indonesia. Local media reported that protesters burned several vehicles and excavators, while access to the company's hauling road and jetty was blocked, disrupting material transportation. Police subsequently evacuated Chinese nationals from the site. The incident has raised concerns over potential disruptions to nearby nickel mining and logistics activities. However, as of October 5, no confirmed reports have established the extent of production suspensions or reductions at specific nickel mines. Further attention should be paid to the restoration of transportation access, local security conditions, and any subsequent impact on nickel ore supply.

10 hours ago